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Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark Kindle Edition

by David Clark (Author) Format: Kindle Edition
4.5 4.5 out of 5 stars 628 ratings
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Words of wisdom from the late Charlie Munger—Warren Buffett’s longtime business partner and the visionary Vice Chairman of Berkshire Hathaway—collected and interpreted with an eye towards investing by David Clark, coauthor of the bestselling Buffettology series.

Born in Omaha, Nebraska in 1924, Charlie Munger studied mathematics at the University of Michigan, trained as a meteorologist at Cal Tech Pasadena while in the Army, and graduated magna cum laude from Harvard Law School without ever earning an undergraduate degree. Munger was one of America’s most successful investors, the Vice Chairman of Berkshire Hathaway, and Warren Buffett’s business partner for almost forty years. Buffett says “Berkshire has been built to Charlie’s blueprint. My role has been that of general contractor.” Munger was an intelligent, opinionated businessman whose ideas can teach professional and amateur investors how to be successful in finance and life.

Like The Tao of Warren Buffett and The Tao of Te Ching, The Tao of Charlie Munger is a compendium of pithy quotes including, “Knowing what you don’t know is more useful than being brilliant” and “In my whole life, I have known no wise people who didn’t read all the time—none, zero.” This collection, culled from interviews, speeches, and questions and answers at the Berkshire Hathaway and Wesco annual meetings, offers insights into Munger’s amazing financial success and life philosophies. Described by Business Insider as “sharp in his wit and investing wisdom,” Charlie Munger’s investment tips, business philosophy, and rules for living are as unique, intelligent, and successful as he was.
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Editorial Reviews

About the Author

For over twenty years, David Clark has been considered the world’s leading authority on the subject of Warren Buffett’s investment methods. His international bestselling investment books, The Tao of Charlie Munger and those coauthored with Mary Buffett—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, The Management Secrets of Warren Buffett, Warren Buffett and The Art of Stock Arbitrage, and The Warren Buffett Stock Portfolio—have been translated into more than twenty languages and are considered “investment classics” the world over.

Excerpt. © Reprinted by permission. All rights reserved.

Tao of Charlie Munger

Product details

  • ASIN ‏ : ‎ B01E4BC1EI
  • Publisher ‏ : ‎ Scribner (January 3, 2017)
  • Publication date ‏ : ‎ January 3, 2017
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 1206 KB
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Sticky notes ‏ : ‎ On Kindle Scribe
  • Print length ‏ : ‎ 257 pages
  • Customer Reviews:
    4.5 4.5 out of 5 stars 628 ratings

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David Clark

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4.5 out of 5 stars
4.5 out of 5
628 global ratings
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Top reviews from the United States

Joshua Tanuwidjaya
5.0 out of 5 stars from here, you’ll learn life through charlie’s pov as an investor
Reviewed in the United States on December 19, 2023
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I always knew that Buffett has so much wisdom, but Charlie had much more interesting take on investments through his various knowledge.

One ought to read this multiple times to get ahead in his portfolio. This book could function as your book of principle, guiding your thoughts before major decisions in picking the next best investment in your finance, or life.
One person found this helpful
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kk
5.0 out of 5 stars mini MBA
Reviewed in the United States on March 1, 2022
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David Clark is an excellent author, he makes things very easy to understand. Tao of Warren & Charlie are two underrated books.
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Hardcover does NOT have poor quality papers.
It's called "Rough cut" also known as "deckled edged". It's a style. Google it to understand more. Book is good; so just trying to educate people here.
6 people found this helpful
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investingbythebooks
4.0 out of 5 stars What would Charlie Munger do?
Reviewed in the United States on May 14, 2017
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If you collect quotations from one of the broadest thinkers in business who for decades has delivered witty and wise sayings, you cannot really go wrong. The Tao translates as “the way” or “the path” and what we are served here is the way of Charlie Munger, vice Chairman of Berkshire Hathaway and long business partner to Warren Buffett. Munger’s many sayings have over time gained enough status to be christened as “Mungerisms.”

The reference to Taoism is equally apt when it comes to the format of the book. Just as Lao-tzu, the Taoist collection of saying and proverbs, this is a commented assortment of quotations where David Clark, co-writer of the many Buffettology books does the observing and deciphering of the wise musings of the old master. Buffett obviously has a wonderful way with words but I have always enjoyed Munger’s shorter, sharper and more cynical statements more and Clark has done us all a huge service collecting these quotes. It is a book possible to read in one, albeit long, sitting – but please don’t. Take the time to scribble down how Munger’s thoughts reflect on your investments, business and being. Does this make sense to you? If so, how are you living up to it? What can you change? What can you improve?

The selected quotations are grouped into four parts covering investing, banking and the economy, business and philosophizing on life at large. Sections one and three are delivered with authority and Ben Graham’s saying that investing is the most intelligent when it is most businesslike springs to mind. At the same time the investing of Munger and Berkshire Hathaway is hardly unknown material due to the vast coverage of Buffett’s investing success.

The danger with adding commentary is that it isn’t always better to say something in a lengthier format when it has already been delivered crisp and clear in a short pitchy way. There is a balance to be kept to not over-explain things. Clark is mostly on the right side of the tracks but he delivers rather similar explanations to many of the quotes and is forced to add quite a few “as we have said earlier”.

Further, just as it comes to later commentary of, say old Taoist texts, it is always possible to debate if the interpretation of the original scriptures from one specific scholar is optimal. Occasionally I would have chosen to make alternative reflections. I think the selection of quotes Clark has made is a good one. Perhaps it could have hade been tilted a tad more towards psychology given Munger’s wisdom in the area. There are few real gems missing apart from this favorite on investing “It’s not supposed to be easy. Anyone who finds it easy is stupid.” – a typical Mungerism in it’s lack of flattery.

The second part of the book is the least interesting - but every time one hears figures about the gross exposure of global derivatives one marvels. The best and most inspiring part is the fourth, on Life, Education and the Pursuit of Happiness. Below are some of our favorites. “Being rational is a moral imperative. You should never be stupider than you need to be”; “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve” and especially close to our heart “In my whole life, I have known no wise people who didn’t read all the time – none, zero. You’d be amazed at how much Warren reads – and how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” Amen. If you ever find yourself hesitating over a decision, simply ask yourself “What would Charlie Munger do?”

This is a review by investingbythebooks.com
20 people found this helpful
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Deepak
5.0 out of 5 stars Good read on investing and life
Reviewed in the United States on January 15, 2017
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A great collection of Mr.Munger's ad verbatim aphorisms that are explained. If you want a book that touches on the subject of money making AND living a good life, this is it. It's essentially a collection of remarks of Mr.Munger that are explained.

Other than the over glorification of Mr.Munger's skills and their relevance to the subject of money making through the markets, I thought the book was a solid explanation of his views on both money and life. You'll understand what I mean once you read the bit about Mr.Munger's understanding of Einstein's unified field theory and his ability to quote Mark Twain - all of which were utterly useless in his ability to save Berkshire from losing money on the US Airways investment.
4 people found this helpful
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Thomas McColgan
3.0 out of 5 stars Three Stars
Reviewed in the United States on November 13, 2017
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easy to see why mr. buffet values his opinions.
One person found this helpful
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Tony C.
5.0 out of 5 stars A great book!
Reviewed in the United States on November 27, 2021
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I got a lot an amazing amount of wisdom from this little book. Charlie is now my new role model!
2 people found this helpful
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Paul Jones
5.0 out of 5 stars Valuable snippets about life, business and investing.
Reviewed in the United States on March 21, 2021
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In this book make up of short chapters, there’s some condensed knowledge for anyone involved in investment, business and any form of human endeavor.
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Luke Kanies
4.0 out of 5 stars Useful walk through quote by Charlie Munger
Reviewed in the United States on April 28, 2017
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I learned a couple very useful ideas from this book (such as holding cash reserves for opportunities), and it was a fast read which made it worth it.

The commentary on the bottom varied between irrelevant, insightful, and utter poppycock. By the end, I just focused on the quotes and not the commentary, at least partially because these quotes generally stand on their own.
One person found this helpful
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Johel
4.0 out of 5 stars Great job
Reviewed in Brazil on October 7, 2022
Verified Purchase
An almanack of Naval Ravikant like book, but where the author writes more than Charlie Munger himself.

I highlighted a bunch of stuff, but truly insightful visions were just a few.

The greatest lesson? It is better to buy for a fair price a great business than to buy for a cheap price a fair business. BUT you need to have the patience.
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Vijay Srivastava
5.0 out of 5 stars Wisdom of Market
Reviewed in India on June 7, 2022
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Book has beautifully explained the wisdom of munger for the market in the beautiful way. These are very useful if practiced properly.
One person found this helpful
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Giovanni Buscarino
5.0 out of 5 stars Tanta saggezza in 240 pagine
Reviewed in Italy on August 13, 2019
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Molte citazioni le avevo già lette in giro per il web, ma i commenti di David Clark approfondiscono i concetti in modo esaustivo.

Come da descrizione Il libro è di tipo "rough cut" o "edge deckle", (vedi foto) l'effetto tutto sommato non dispiace
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Giovanni Buscarino
5.0 out of 5 stars Tanta saggezza in 240 pagine
Reviewed in Italy on August 13, 2019
Molte citazioni le avevo già lette in giro per il web, ma i commenti di David Clark approfondiscono i concetti in modo esaustivo.

Come da descrizione Il libro è di tipo "rough cut" o "edge deckle", (vedi foto) l'effetto tutto sommato non dispiace
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Dr. M. Clayton
5.0 out of 5 stars Superb advice insightfully interpreted.
Reviewed in the United Kingdom on July 26, 2017
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Superb advice insightfully interpreted.

Some readers may not like the 'torn edge' finish on the pages (or do I have an ex-review copy' but the binding is good and the content valuable.
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Xalphinions
1.0 out of 5 stars worst book ever
Reviewed in Singapore on October 3, 2023
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book cover is damaged, and this book clearly is cropped by hand.
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Xalphinions
1.0 out of 5 stars worst book ever
Reviewed in Singapore on October 3, 2023
book cover is damaged, and this book clearly is cropped by hand.
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